dealership on ch 4

TradePro

gardner1 wrote: »

by the cheapest option I can afford ie lowest rate I can get via bank/building society...and if I couldn't afford it I would save up for it:eek:

I think you misunderstood my point.

What I mean is, was your (say) £100,000 house;

a) £100,000

or

b) £194,637 (inc. 25yrs interest)

londonTiger

TradePro

This is moneySAVINGforum, not moneyMAKINGforum. This forum is aimed for consumers not traders.

The cost of finance may be seperate for you as a vehicle seller. But for the consumer the cost of finance is very much part of the package when considering buying the car because in a roundabout way the finance IS for the car therefore it adds to the cost of the car in the buyers mind.

People who are smart with their money like many here will count the cost of the finance as the cost of the house.

OTOH Consumers who get smittened by the idea of buying a new car/house and don't look at their finances first and then like to bury their head in the sand when they have trouble repaying may ignore the cost of finance and just look at the value of the car.

1jim

Wh05apk wrote: »

Personally I would view it differently, no doubt your local dealer was telling you it was a fantastic deal, and you couldn't do better? then suddenly when you found a better deal, they could improve their offer? so until you found better, they were perfectly happy to shaft you?

TradePro wrote: »

They weren't shafting him, they were just trying to sell the car at the price it should be - a main dealer has much larger overheads (not to mention their investment into the particular brand) than a broker.

Don't forget, it's not the broker's techies who are going to repair the car, and fund a courtesy car should something go wrong...

They are a business and entitled to attempt to make a bit of profit.

I don't see it as being shafted, more of a "I had to try it guv" type of thing.
He tried to sell the car at rrp, he knew at that point it was a bit of a punt as had told him I wasn't buying that day so really wasn't into negotiating position, and I suppose most people don't look at brokers (although I think they should). I suppose the dealer was happy to move on price when he knew I was serious about pricing, as soon as I said, this is what it costs elsewhere, would rather buy from you if you can get to the same price but will buy from the other dealer if need be, it's up to you....5 minutes later deal done. Am quite happy to play that game, if I'm honest it's what I expect, as long as its quick and painless and no funny business.

The flip side is brokers source through main dealers with those same overheads and you deal directly through them, I suspect they don't sell at a loss, perhaps they get bonuses on volume sales? All the brokers do is pass your details to the dealer so techies are all the same, it's just some dealers choose to go down that route, others don't for whatever reason. To me it really makes no difference where I buy the car from as long as the deal is right, am happy to give local dealer the business if I can but am not into paying thousands more than I have to if I'm honest.

photome

londonTiger wrote: »

TradePro

This is moneySAVINGforum, not moneyMAKINGforum. This forum is aimed for consumers not traders.

The cost of finance may be seperate for you as a vehicle seller. But for the consumer the cost of finance is very much part of the package when considering buying the car because in a roundabout way the finance IS for the car therefore it adds to the cost of the car in the buyers mind.

People who are smart with their money like many here will count the cost of the finance as the cost of the house.

OTOH Consumers who get smittened by the idea of buying a new car/house and don't look at their finances first and then like to bury their head in the sand when they have trouble repaying may ignore the cost of finance and just look at the value of the car.

I am with trade pro and I am a consumer and a money saver.

If someone asks how much my house was I would answer the price I paid the builder not what my mortgage costs over 20 years.

I usually borrow money to buy a car (not always) and if someone asks how much I paid for it, again it would be the amount I paid the dealer not the amount plus interest.

Of course I take in to account all costs when purchasing but that isn't the question

TradePro

1jim wrote: »

The flip side is brokers source through main dealers with those same overheads and you deal directly through them, I suspect they don't sell at a loss, perhaps they get bonuses on volume sales? All the brokers do is pass your details to the dealer so techies are all the same

Yes Jim, this is all correct, but the point is this;

If EVERY car the dealer sold was at cost price via a broker, who would pay for the facilities that you and all the other drivers will need at some point or another?

Good on you for getting a great deal, and I truly mean that, but don't be of the opinion that everyone else got ripped off, like the other guy seems to think.

TradePro

photome wrote: »

I am with trade pro and I am a consumer and a money saver.

If someone asks how much my house was I would answer the price I paid the builder not what my mortgage costs over 20 years.

I usually borrow money to buy a car (not always) and if someone asks how much I paid for it, again it would be the amount I paid the dealer not the amount plus interest.

Of course I take in to account all costs when purchasing but that isn't the question

Thanks for understanding my point mate.

1jim

TradePro wrote: »

Good on you for getting a great deal, and I truly mean that, but don't be of the opinion that everyone else got ripped off, like the other guy seems to think.

Agreed, I don't think everyone else has been ripped off, I just look at like I got a cracking deal :-)

gardner1

TradePro wrote: »

I think you misunderstood my point.

What I mean is, was your (say) £100,000 house;

a) £100,000

or

b) £194,637 (inc. 25yrs interest)

sorry....total cost inc interest

TradePro

gardner1 wrote: »

sorry....total cost inc interest

Okay, so let's say you buy the £100,000 house, take out a £90,000 mortgage, but the total payable over 25 years is £195,000.

After 6 months you need to sell up and move because you get a new job. Would you put your house on the market (allowing for a little bit of price increase in the 6 months) at;

a) £104,995 ono

or

b) £199,995 ono

You're talking sh*t, sorry.

gardner1

TradePro wrote: »

Okay, so let's say you buy the £100,000 house, take out a £90,000 mortgage, but the total payable over 25 years is £195,000.

After 6 months you need to sell up and move because you get a new job. Would you put your house on the market (allowing for a little bit of price increase in the 6 months) at;

a) £104,995 ono

or

b) £199,995 ono

You're talking sh*t, sorry.

its a bit different with a house some of the idiots last night had no idea about money i.e. not to know how much you owe on current finance deal whilst trying to buy range rover
the dad who was after the mini should have walked away to next dealer but didn't have the balls
the couple who got the ford down by £1000 but then took out a 60 month finance deal

no wonder so many kids owe £ooos because of the I want it now attitude